Malaysia Holds Key Rate Amid Lockdown to Curb Virus Surge

Malaysia kept its benchmark interest rate unchanged Wednesday, saving its policy ammunition as the country grapples with a surge in Covid infections that could take months to subside. Bank Negara Malaysia maintained the overnight policy rate at a record-low 1.75% at its first meeting of the year, as expected by 12 of 23 economists surveyed by Bloomberg. The rest had forecast a 25-basis point cut.